Search This Blog

email: bernard.english@gmail.com

website: https://sites.google.com/site/taipeibm/
PLEASE INFORM ME OF ANY BROKEN LINKS!

Bernard M -- Taipei English Tutor

Bernard M - English Conversation / TOEFL / IELTS 一對一英文會話

Friday, June 6, 2008

About 1 in 11 Mortgageholders Face Loan Problems by By VIKAS BAJAJ and MICHAEL M. GRYNBAUM FROM The New York Times

About 1 in 11 American mortgages were past due or in foreclosure at the end of March, according to a report released on Thursday, a figure that is rising fast as home prices fall and the job market weakens.

The first three months of 2008 marked the worst quarter for American homeowners in nearly three decades, according to the report, issued by the Mortgage Bankers Association. The rate of new foreclosures and past-due payments surged to their highest level since 1979, when the group first started collecting the data.

All told, about 8.8 percent of home loans were past due or in foreclosure, or about 4.8 million loans. That is up from 7.9 percent at the end of December. (About a third of American homeowners do not have mortgages.)

Follow by Email

Followers